Femi Falana, SAN, has criticized the Nigerian National Petroleum Company Limited (NNPCL) for allegedly setting the price of petrol produced by the Dangote Refinery, which he claims violates Section 205 of the Petroleum Industry Act (PIA).
Falana argues that, according to the PIA, the prices of petroleum products should be determined by market forces, not by NNPCL.
He also highlights that the price of N950 per litre for petrol from the Dangote Refinery is unjustified given that it is produced locally and should not include additional costs typically associated with imported petrol.
This statement follows criticism from the Independent Petroleum Marketers Association of Nigeria (IPMAN) regarding the high cost of petrol from the Dangote Refinery compared to imported petrol.
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